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April 26, 2019 at 01:04 PM
Securian Financial Group Inc. is giving a clear sign of happiness with its approach to speeding up the life insurance underwriting process.
The St. Paul, Minnesota-based life insurer says it will be expanding consumer access to its WriteFit accelerated life underwriting program.
(Related: How Well Does Accelerated Life Underwriting Really Work?)
The program will now be available to healthy applicants ages 50 and under who are applying for up to $2 million in coverage, and healthy applicants ages 51 through 60 who are applying for up to $1 million in coverage.
To be eligible for the process, applicants must qualify to be in Securian’s Preferred or Preferred Select health categories.
Securian has been making the accelerated underwriting process available to healthy consumers under 54 who were applying for up to $1 million in coverage since 2016.
For the 26,500 applications processed using the WriteFit program, approval times have averaged 24 hours, and applicant placements have been about 10% to 15% higher, Securian says.
Information about the effects of the program on claims was not immediately available.
